It seams BTCUSD is trying to break above the 50 period EMA on the 4H graphic, but it is still to meet the strong resistance of the 100 period EMA, which it hasn't been able to cross since 01-09-2018. Meanwhile priceaction has been closed between 0.382(8055.63) and 0.618(9400) retracements from the last peak price to the last bottom (11 525 - 5910), meeting heavy resistane around the 0.263 (9200) retracement from the all time high.
A break above the 100 period EMA will lead to a test of the strong resistance retracements (9200 - 9400) which have shown to be holding tight since 03-02-2018. Failure to break the above resistance will send the price back to the support around 8000. MACD is at near zero levels giving mixed signals.
A break above 9400 or below 8000 will signal a clear breakout off the sideway moves. Otherwise I would expect the price action to continue in the channe.
A break above the 100 period EMA will lead to a test of the strong resistance retracements (9200 - 9400) which have shown to be holding tight since 03-02-2018. Failure to break the above resistance will send the price back to the support around 8000. MACD is at near zero levels giving mixed signals.
A break above 9400 or below 8000 will signal a clear breakout off the sideway moves. Otherwise I would expect the price action to continue in the channe.
Kommentar:
The price action continued sideways, under the 100 EMA and a trendline formed earlier through the week. Given the increased volume and the lower peaks forming, the probability of a breakout upwards seems vein.
